The active collaboration between the government and market participants will play a crucial role in enhancing economic growth and facilitating overall economic development, according to the Securities and Exchange Commission (SEC). Director-General of the SEC, Lamido Yuguda, emphasized the potential of this synergy to unleash the prowess of the capital market and pave the way for a prosperous future. In a press conference held in Lagos, Yuguda highlighted the importance of utilizing market mechanisms and instruments to raise funds and stimulate economic advancement.
The SEC is committed to introducing new ideas and policies that support the development and regulation of a dynamic, fair, transparent, and efficient capital market. Recognizing the significance of investor protection, Yuguda stressed that it plays a crucial role in the integrity and development of the capital market. He outlined various approaches to effectively harness the capital market for national development, including deploying more infrastructure, fostering public-private partnerships, establishing specialized entities like special purpose vehicles (SPVs), listing state-owned enterprises, issuing green bonds to support sustainable projects, and bolstering small and medium enterprises.
Yuguda, represented by SEC Commissioner of Operations, Dayo Obisan, expressed confidence that by adopting these strategic approaches, the government and market participants can create a dynamic capital market that attracts diverse investments, fuels economic growth, and significantly contributes to national development goals. He assured that the SEC would create an enabling environment, facilitate oversight, and provide a regulatory framework that continues to deepen market support development.
Yuguda also emphasized the SEC’s commitment to supporting efforts aimed at addressing the financial literacy and empowerment gap in society. The revised capital market master plan serves as a testament to the SEC’s dedication to deepening and repositioning the financial market as a key driver of sustainable economic growth. The master plan, aligned with the collective aspirations of the capital market community, aims to grow and deepen the market, with the ultimate goal of accelerating Nigeria’s emergence among the top 20 economies by 2025.
In conclusion, the Securities and Exchange Commission stresses the importance of active collaboration between the government and market participants in enhancing economic growth and facilitating overall economic development. By utilizing market mechanisms and instruments, fostering partnerships, and implementing strategic approaches, a dynamic capital market can be created to attract investments, fuel economic growth, and contribute significantly to national development goals. The SEC remains committed to creating an enabling environment, facilitating oversight, and supporting efforts to bridge the financial literacy gap in society.
